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Numerai, a hedge fund created by South African developer Richard Craib, has begun to incentivize its anonymous data scientists with Ethereum's native token Ether instead of Bitcoin. Earlier this week, Numerai migrated its platform and deployed the Numeraire smart contract to the Ethereum network, sending 1.2 mln tokens to 19,000 data scientists globally. However, because the Numeraire token and its smart contract are launched on top of the Ethereum network, the hedge fund struggled to create a practical and compatible way of incentivizing its data scientists. Ether, the native token of Ethereum, is compatible with the tokens of all decentralized applications launched on top of the Blockchain, which is why it is used as a currency peg for investors participating in initial coin offerings (ICOs).
Jun-26-2017, 17:30:22 GMT